VEREIT Inc. (NYSE:VER) does about 12.42M shares in volume on a normal day but saw 7967774 shares change hands in Monday trading. The company now has a market cap of 7.42B USD. Its current market price is $6.92, marking an increase of 2.67% compared to the previous close of $6.74. The 52 week high reached by this stock is $10.18 whilst the lowest price level in 52 weeks is $3.56. The script in recent trading has seen the stock touch a high of $6.93 and a low of $6.665.
VEREIT Inc. (VER) has a 20-day trading average at $6.63 and the current price is -32.02% off the 52-week high compared with 94.66% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.55 and its 200-day simple moving average is $7.35. If we look at the stock’s price movements over the week, volatility stands at 3.89%, which decreases to 3.52% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 60.10 to suggest the stock is neutral.
The consensus objective for the share price is $7.08, suggesting that the stock has a potential upside of 2.26% over the period. The median price target is 6.23% away from the current levels at $7.38.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 24, 2020 when BofA Securities upgraded the stock to “Buy” and issued a price target of. CapitalOne downgraded its price target at $10.
The current price level is 4.83%, 5.75%, and -6.05% away from its SMA20, SMA50, and SMA200 respectively, with the VER price moving above the 50-day SMA on August 24. VEREIT Inc. (VER) stock is up 0.87% over the week and 11.43% over the past month. Its price is -25.11% year-to-date and -26.23% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.04 above consensus estimates by $0.01. Expected sales for next quarter are $281.08 million, which analysts say will come at $1.15 billion for the current fiscal year and next year at $1.14 billion. In addition, estimates put the company’s current quarterly revenue at an average of $283.39 million.
To reach the target analysts have set, the stock logically needs to grow 2.26 percent from here.
Outstanding shares total 1.08B with insiders holding 0.31% of the shares and institutional holders owning 94.90% of the company’s common stock. The company has a return on investment of -2.70% and return on equity of -8.40%. The forward price to earnings ratio is 39.10. The beta has a value of 1.08. Price to book ratio is 1.12 and price to sales ratio is 6.25.
According to a U.S. Securities and Exchange Commission filing, Vanguard Real Estate Index Fund has reduced its position in VEREIT Inc. (VER) to 48,029,316 shares, mirroring a recent drop by -0.62%. Vanguard Real Estate Index Fund dumped -0.3 million shares of VEREIT Inc. common stock bringing its total worth to about $312.67 million at the end of recent close, SEC documents show. Vanguard Real Estate Index Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off 13747.0 shares to end up with 30,587,113 shares worth $199.12 million. Vanguard Mid Cap Index Fund cut their holdings by -0.84% in the company over the course of the most recent quarter. It now holds a 2.45% position in VEREIT Inc. thanks to 26.41 million shares amounting to $171.92 million.